Iris Business Services Limited has informed the Exchange regarding 'Disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. '.
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Awaiting price reaction for this filing.
IRIS RegTech Solutions (formerly Iris Business Services) has filed a disclosure under Regulation 10(6) of the SEBI Takeover Regulations with the stock exchange. This regulation requires promoters or persons holding more than 5% of shares to report any acquisition or disposal of shares exceeding 2% of voting rights in the company. The filing indicates a significant change in shareholding by a promoter or major shareholder, though the specific details of the transaction (whether it was a purchase or sale, the exact percentage, and the parties involved) are not available in the public summary.
Shareholders should watch for further details on whether this reflects promoter buying (a positive signal showing insider confidence) or selling (which may warrant caution). The full disclosure will clarify the direction and size of the change.